Hapoalim, Israel’s largest bank, posted Q4, 2014 net profit of 478m shekels ($119m), compared with 633m in 2013 and below expectations of 615m in a Reuters poll. It was impacted by the additional89m shekels provisions to cover a possible US tax settlement. ‘The bank said it is too early to assess if it will be fined’ says Reuters.

In December 2014, Leumi, another Israeli bank, agreed to pay fines of $400m to settle investigations into whether it helped its wealthy Americans evade taxes.